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Advanced Cost Estimating and Control for Projects

This 4 day seminar is designed for project managers with a minimum of three years’ experience who will be expected to lead high value O&G projects. The emphasis of this experiential course is on the practical application of proven project management best-practices, including the hands-on application of processes, tools and techniques to insure project success. Particular emphasis is given to students learning how to develop Cost and Schedule Management plans that address the development of realistic cost and schedule estimates, and how monitoring, controlling, re-planning and reporting will be accomplished throughout the project lifecycle.

Attendees will gain experience in using tools and techniques that address the specific challenges to these types of projects, including price mechanisms, environmental factors, and risk, procurement, quality, and stakeholder management. In addition, students will return to their organizations with PMBOK compliant templates for cost, schedule, scope, risk quality and procurement management plans that they may tailor for use on their own projects

Agenda

Audience

Prerequisites

Agenda

Day 1

Project Management Overview

Key Challenges to O&G projects

Project Management Processes

Review of Project Planning Workshop Deliverables

Integration of the project management lifecycle with O&G project phases

Participants will understnd the unique challenges to O&G Projects and the importance of using project management best practices to enable organizations to realize the business benefits of their projects.

Day 2

Front End Loading (FEL) and the Project Execution Plan (PEP)

Front End Loading (FEL) and its importance to O&G projects

Project Execution Plan Elements

Communications & Stakeholder Management

Estimation Techniques

Based on the class case study, participants will identify and analyze project stakeholders, as well as develop a communication plan for each. Afterwards, the attendees will develop a Scope Management Plan and WBS for their case study prior to producing a bottom-up cost estimate and Cost Management Plan.

Day 3

The Project Execution Plan, continued

Schedule and Schedule Execution Management

Contractor Selection and Management

Risk Management

Quality Management

Participants will learn how to create realistic project schedules developed from the WBS and create a Schedule Management Plan. In addition students will learn best practices for procurement, risk, and quality management

Day 4

Project Monitor/Control and Project Closing

Key concepts impacting cost control

Earned Value

Milestones, Performance Reporting, and Replanning

Project Close

The course will wrap up with an overview of cost index, price mechanisms, escalation and environmental factors that may impact project/program costs. There will be several hands-on EVA exercises, discussions on re-planning techniques to bring projects back on-track, and effective status reporting in addition to a simple methodology on how to conduct lessons learned